About the Secretary

Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad.

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Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and Cobham Holdings, Inc.

11/27/2018

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​The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $87,507 settlement with Cobham Holdings, Inc. (“Cobham”) of Arlington, Virginia. Cobham has agreed to settle potential civil liability on behalf of its former subsidiary Aeroflex/Metelics, Inc. (“Metelics”) for three apparent violations of the Ukraine Related Sanctions Regulations, 31 C.F.R. part 589 (URSR). The apparent violations involved the indirect export of components to be incorporated into commercial air traffic control radar to a person owned 50 percent or more, directly or indirectly, by a person identified on OFAC’s List of Specially Designated Nationals and Blocked Persons in violation of URSR § 589.201. OFAC determined that Cobham voluntarily self-disclosed the apparent violations on behalf of Metelics and that the apparent violations constitute a non-egregious case.